Worldpay officially launched its embedded payments solution, Worldpay for Platforms, on July 8 to expand its integrated real-time payment offering to new markets.
Worldpay for Platforms will become available to merchants and client customers in the UK and Canada, while also further expanding in Australia. Software providers of relevant customers will be able to embed Worldpay’s payment infrastructure directly into their platforms.
The embedded payment offering focuses on enabling businesses to offer their customers real-time payments from within their platforms, speeding up the payment process and helping businesses scale their operations more efficiently.
Worldpay will also facilitate a personalised relationship management solution that helps Software-as-a-Service (SaaS) providers improve upon the user experience on their payment platforms and point-of-sale checkouts.
The global payment firm stated the launch of its Worldpay Embedded Payments division indicated a dedication to “making platform-driven commerce work” across multiple industries, meeting the demands of the digital-native payment user.
“As business software tools converge into unified experiences, we’re investing in embedded payments to help SaaS providers become the everything platforms for their users,” said Matt Downs, Head of Worldpay for Platforms.
“We are committed to serving our current software platforms and new clients in the key geographies where they do business by making embedded solutions easier to integrate and elevating the experiences they provide their users.”
Meeting global demand
The demand for embedded payment solutions from companies outside the finance sector has surged in recent years due to its ability to migrate sophisticated payment solutions from leading firms into their own platforms.
Worldpay has recognised this drive in demand, finding 90% of small and medium-sized enterprises stating access to financial products and services from within their software platforms is “critical” to meeting consumer needs.
In the UK, the embedded payment market has undergone significant growth due to mass adoption from both customers and merchants, primarily through younger customers who have driven the surge in digital wallet payments which in turn, has forced companies to accommodate them by providing the necessary payment infrastructure.
Canada, while also witnessing similar digital wallet growth, has laid down regulations to support the adoption of embedded payments. Canada’s Retail Payment Activities Act focuses on Open Banking initiatives that help facilitate the integration of embedded payments into non-financial platforms.
“Embedded payments are a growth engine,” said Alison Morris, SVP and GM of International Platforms at Worldpay. “By launching across these new geographies, we’re helping our partners deliver more value, grow faster and stand out in increasingly competitive markets.
“Offering integrated payment experiences that are trusted, secure and designed around the end-customer, vertical software providers can unlock new revenue streams, increase retention and strengthen loyalty.”
Worldpay’s acquisition under UK microscope
While Worldpay launches its embedded payments solution in the UK, it may have to contend with the country’s Competition and Markets Authority (CMA) ongoing information gathering process into its acquisition by Global Payments.
The CMA launched the inquiry on July 1 to call on comments from relevant UK companies as to whether the Global Payments – Worldpay merger could threaten competitiveness within the country’s payment processing market.
Worldpay processes over 40 billion transactions in over 146 countries in 135 currencies. Global Payments processed more than 50 billion transactions in 2024 across their network.
Merging both companies could see more than 100 billion transactions processed, a feat only greatly surpassed by Visa and Mastercard, who processed 233 billion and 197 billion transactions, respectively.
The deadline for comments to be submitted to the CMA is set for July 16.
